Hong Kong listing spree brings US$1.8 billion to market in one day
The city’s market for first-time listings is on track for a record year as AI-linked investment fuels demand
In a record-breaking day for Hong Kong's market of first-time listings, US$1.8 billion has been brought to the market by four companies, all set to commence trading on September 29th. The largest of these is RoboTechnik Intelligent Technology, which aims to raise up to US$660 million following a 168% surge in its Shenzhen-listed shares this year.
The company offers an upsize option of up to 15% of the base offering. Hong Kong's market for first-time listings is projected to experience a record year, driven by AI-linked investment demand, with companies raising over US$45 billion so far, according to Bloomberg data. The year's most significant deals include Alibaba Group Holding's US$10 billion follow-on offering and Z.AI's US$5 billion stock-and-convertible sale.
Other companies joining the market include Shenzhen Kinwong Electronic, a printed circuit-board maker seeking US$650 million, Red Avenue New Materials Group aiming for US$382 million, and Direct Drive Tech targeting US$138 million.
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